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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Zccm Investments Holdings Plc | LSE:ZCC | London | Ordinary Share | ZM0000000037 | 'B' ORD ZMK10 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.6344 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Copper Ores | 11.96B | -3.76B | -23.3801 | -0.07 | 262.1M |
From Apr 2019 to Apr 2024
TIDMZCC
RNS Number : 4107N
ZCCM Invs.Hldgs PLC
17 January 2019
SENS ANNOUNCEMENT
(the "Notice" or "Announcement")
ISSUER
ZCCM INVESTMENTS HOLDINGS PLC ("ZCCM-IH")
[Incorporated in the Republic of Zambia]
Company registration number: 119540000771 Share Code: ZCCM-IH ISIN: ZM0000000037 Authorised by: Chabby Chabala - Company Secretary
SPONSOR
Stockbrokers Zambia Limited
[Founder Member of the Lusaka Securities Exchange]
[Regulated and licensed by the Securities and Exchange Commission of Zambia]
Contact Number: +260-211-232456 Website: www.sbz.com.zm
APPROVAL
The captioned Notice or Announcement has been approved by:
Hot Features
Premium
i. the Lusaka Securities Exchange ("LuSE")
ii. the Securities and Exchange Commission ("SEC")
iii. Stockbrokers Zambia Limited ("SBZ")
RISK WARNING
The Notice or Announcement contained herein contains information that may be of a price sensitive nature.
Investors are advised to seek the advice of their investment advisor, stockbroker, or any professional duly licensed by the Securities and Exchange Commission of Zambia to provide securities advice.
ISSUED: 16 January 2019
ZCCM INVESTMENTS HOLDINGS PLC
(Incorporated in the Republic of Zambia)
AUDITED FINANCIAL RESULTS OF THE GROUP FOR THE YEARED 31 MARCH 2018
In accordance with the requirements of the Securities Act No. 41 of 2016 and the Listing Requirements of the Lusaka Securities Exchange, ZCCM Investments Holdings Plc (ZCCM-IH Plc) announces the audited results of the company and its subsidiaries (collectively referred to as the Group) for the year ended 31 March 2018.
ABRIDGED GROUP STATEMENT OF COMPREHENSIVE INCOME FOR THE YEARED
31 MARCH 2018
Audited Audited
2018 2017
ZMW'000 ZMW'000
Revenue 60,982 95,345
===================== ===================
Gross loss (17,487) (14,516)
--------------------- -------------------
Operating profit 46,550 847,866
Net finance (cost)/income (132,485) 585,646
Share of profit/(loss) of equity accounted investees 689,207 (189,233)
--------------------- -------------------
Profit before tax 603,272 1,244,279
Income tax credit/(expense) 241,287 (515,445)
--------------------- -------------------
Profit from continuing operations 844,559 728,834
Loss from discontinued operations (1,610) -
--------------------- -------------------
Profit for the year 842,949 728,834
--------------------- -------------------
Earnings per share (K) 5.25 4.53
Basic and diluted earnings per share (K) 5.25 4.53
===================== ===================
ABRIDGED GROUP STATEMENT OF FINANCIAL POSTION AS AT 31 MARCH 2018
Audited Audited
2018 2017
ASSETS ZMW'000 ZMW'000
Property, plant and equipment 143,164 144,842
Intangible assets 367 396
Investment property 64,473 61,157
Investments in associates 7,355,864 6,828,313
Financial assets at fair value through
profit or loss 336,082 489,242
Inventories 37,026 44,124
Trade and other receivables 1,022,880 918,892
Deferred tax assets 497,609 415,548
Held-to-maturity investment securities 535,384 497,172
Cash and cash equivalents 339,386 178,931
TOTAL ASSETS 10,332,235 9,578,617
===================== =====================
EQUITY AND LIABILITIES
Capital and reserves 8,940,346 8,013,913
Borrowings 133,703 192,062
Deferred tax liabilities 256,072 425,529
Trade and other payables 488,989 375,954
Other provisions 139,785 143,548
Retirement benefits 32,422 49,567
Provisions for environmental rehabilitation 118,081 145,610
Current tax liabilities 222,837 232,434
TOTAL EQUITY AND LIABILITIES 10,332,235 9,578,617
===================== =====================
ABRIDGED GROUP STATEMENT OF CASH FLOWS FOR THE YEARED 31 MARCH
2018
Audited Audited
2018 2017
ZMW'000 ZMW'000
Net cash flow from operating activities 16,323 311,143
Net cash flow from/ (used in) investing
activities 198,218 (105,079)
Net cash outflow on financing (54,086) (63,508)
Increase in cash and cash equivalents 160,455 142,556
Effect of movement in exchange rates on
cash held - 844
Cash and cash equivalents at the beginning
of the year 178,931 35,531
Cash and cash equivalents at the end of
the year 339,386 178,931
================ ================
STATEMENT OF CHANGES IN EQUITY FOR THE YEARED 31 MARCH 2018
Share Share Revaluation Translation Retained Total
capital premium reserve reserve earnings
Balance at 1
April 2016 1,608 2,089,343 260,015 5,828,379 146,883 8,326,228
Total
comprehensive
income
Profit for the
year - - - - 728,834 728,834
Other
comprehensive
income:
Deferred tax on
revaluation
reserve - - 786 - - 786
Currency
translation -
equity
accounted
investees - - - (1,122,104) - (1,122,104)
Amortisation of
revaluation
surplus - - (15,138) - 15,138 -
Defined benefit
actuarial
loss - - - - (465) (465)
Deferred tax on
defined
benefit
actuarial loss - - - - 163 163
Share of
associates'
OCI - - 106 80,365 - 80,471
Total
comprehensive
income - - (14,246) (1,041,739) 743,670 (312,315)
---------------- ---------------------- ------------- -------------------- ------------------------ ------------------------
Balance at 31
March 2017 1,608 2,089,343 245,769 4,786,640 890,553 8,013,913
---------------- ---------------------- ------------- -------------------- ------------------------ ------------------------
Balance at 1
April 2017 1,608 2,089,343 245,769 4,786,640 890,553 8,013,913
Total
comprehensive
income
Profit for the
year - - - - 842,949 842,949
Other
comprehensive
income:
Deferred tax on
revaluation
reserve - - 1,944 - - 1,944
Currency
translation -
equity
accounted
investees - - - 36,725 - 36,725
Amortisation of
revaluation
surplus - - (726) - 726 -
Defined benefit
actuarial
gain - - - - 1,959 1,959
Deferred tax on
defined
benefit
actuarial gain - - - - (686) (686)
Share of
associates'
OCI - - - - 43,542 43,542
Total
comprehensive
income - - 1,218 36,725 888,490 926,433
---------------- ---------------------- ------------- -------------------- ------------------------ ------------------------
Balance at 31
March 2018 1,608 2,089,343 246,987 4,823,365 1,779,043 8,940,346
---------------- ---------------------- ------------- -------------------- ------------------------ ------------------------
Commentary
-- The Group recorded turnover of K61 million (2017: K95 million). The decrease in turnover is attributed to low sales at Ndola Lime Company Limited due to increased competition in lime market as well as technical challenges which negatively affected the production and sales of lime and related products.
-- The Group recorded an operating profit of K47 million (2017: K848 million). The decrease is mainly due to:
- Ndola Lime Company Limited's (Subsidiary) continued loss-making position, which contributed an operating loss of K167 million (2017: K1, 152 million);
- impairment of the investment in Konkola Copper Mines Plc amounting to K218 million; and
- decrease in copper price participation income from K719 million (2017) to K360 million (2018).
-- The Group recorded a positive share of profit from equity accounted investee companies of K 689 million (2017: loss K 189 million). This movement represents 464% increase.
-- The Group reported a profit of K843 million (2017: K 729 million) representing 16% increase, driven by improved production volumes of copper in most of ZCCM-IH's investee companies and an upsurge in copper prices during the year. London Metal Exchange copper price increased by 14.8% to US$ 6,724/ton (2017: US$5,858/ton) during the year.
-- The Group's total assets increased by 8% from K9, 579 million (2017) to K10, 332 million (2018) on account of increase in the net assets of investee companies whose performance continued to improve during the year.
Dividends
The Directors have proposed a final dividend of K0.61/share for the year ended 31 March 2018 to be tabled at the Annual General Meeting to be held on 28 January 2019.
By Order of the Board
Chabby Chabala
Company Secretary
Issued in Lusaka, Zambia on Wednesday 16(th) January 2019
Lusaka Securities Exchange Sponsoring Broker
T | +260-211-232456
E | advisory@sbz.com.zm
W | www.sbz.com.zm
Stockbrokers Zambia Limited (SBZ) is a founder
member of the Lusaka Securities Exchange
and is regulated by the Securities and Exchange
Commission of Zambia
=================================================
First Issued on 16 January 2019
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/4107N_1-2019-1-17.pdf
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
January 17, 2019 07:55 ET (12:55 GMT)
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